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Lockheed, Airbus Deny Alliance Report

May 11, 1999|Bloomberg News

Lockheed Martin Corp. and Europe's Airbus Industrie both denied a report that they are planning a broad alliance to challenge aerospace leader Boeing Co. Lockheed Martin has acknowledged having periodic talks with Airbus for two years but said current discussions involve only the possibility of supplying parts for Airbus jetliners or helping to build a large military transport. The Bethesda, Md.-based company said it has no plans to invest any money in Airbus' planned A3XX 600-seat "super-jumbo" jetliner, denying a report published Sunday in the Seattle Times. The A3XX is intended to surpass Boeing's 420-seat 747 as the world's biggest commercial jetliner. Airbus has been seeking U.S. partners to build support for A3XX, which would cost more than $10 billion to develop. Talks with Lockheed Martin have repeatedly faltered over the U.S. company's reluctance to invest in the A3XX.

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